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Cargill investing in Maersk Tankers’ digital spin-off

By September 3, 2020 No Comments

Commodities trader Cargill will invest in ZeroNorth, a digital spin-off from Maersk Tankers, to collaboratively reduce carbon emissions and optimise earnings through digital solutions.

ZeroNorth, launched as a standalone tech start-up, helps owners and operators in the tramp shipping industry to reduce CO2 emissions and optimise earnings through its software Optimise. Cargill is now looking to commit its entire operated fleet to using the Optimise software.

The two-party collaboration is expected to increase the number of vessels using the software to just under 1,000.

“By using the quantitative data approach on vessel performance, Cargill’s customers will benefit from reduced CO2 emissions and bunker consumption. By partnering with ZeroNorth, we will combine Cargill’s experience in chartering and trading with ZeroNorth’s expertise in software engineering,” said Jan Dieleman, business leader for Cargill Ocean Transportation.

In June 2020, Copenhagen-headquartered ZeroNorth announced it was looking for a new investor alongside Maersk Tankers to grow and develop the company into an industry-wide platform for the global tanker and dry bulk fleet. Cargill has been a customer since 2019, testing the Optimise software on part of its chartered fleet.

Soren C. Meyer, ceo at ZeroNorth, said: “By having Cargill onboard as a large-scale customer and investor we are taking yet another step towards digitalising the tramp shipping industry to make a positive impact on the climate.”

The investment by Cargill is subject to anti-trust review and approval.

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